Engineer to banking
 

Hi All,

I am currently a final year student studying chemical engineering in one of the local Us. I have done an internship with a petrochemical company. During the internship, I found out that engineering aint my cup of tea. and deep inside, i kind of regretted of taking engineering course instead of business admins. My result is second lower and it is quite improbable I could pull it up to second upper during these remaining two semesters. I would like to have some advise if it is still possible for me to switch to banking/finance sector after graduation? one of the ways is through the management associate programme which I think is hard for me to be accepted since my result is not stellar. What should I do? your advise is really appreciated.

time and time and time and time again we're seeing this. haven't you seen previous posts or even do some googling on it? this question has been repeated time and time and time again and again and again. the answers and replies are always the same.

banking and finance because of what? the pay? of course you'll be able to move to the finance sector with your qualifications, 2.5k as personal banking associate. now you're gonna say that's not the kind of finance job you're looking for. you're more of the IB or trading or hoping to get some analyst role.

you made your choice when you chose chem engine, prolly because you thought chem engine pays well and you'll be able to get to exxon or shell as a chem engineer. but the sad realization is that they only accept cream of the crop and you, being second lowers, will not be able to get an offer.

please manage your expectations accordingly. and glam and pay isn't every thing in the world. don't think you'll get paid well through easy work in banks. the amount of crap, politics, sweat and hours you have to go through is unimaginable.

if you ever get in, i hope you won't come back here and post a new story saying you hope to change to other sectors cos banking isn't what you thought it to be.

yes i am sick of hearing engineers wanting to be bankers... i dun see anyone else like those from the humanities field making noise and wanting to be bankers... its always those from engine...

u want the true ans? people who studied in Finance are even finding it v hard to join a bank, why wld they wanna hire an engineer and one who has second lower?

Hi anon, seem like u speak from personal experience. Are you a Chem engineer who switched to banking? May I know your background? It is a
Generalization that all Chem engineers would want to go shell and exxon. The two giants can afford to hire the best but they too would have to put up wif politics,
Competition when promotion is performance based. It is very sad to see
You are pit against your own colleagues.

Well said. I always hear these new people come in talk big about being passionate about Finance bla bla, but ask them to do normal jobs in banks, they say "Oh no, I'm talking about the IB, PB type, not the usual ops work".

Why? Because they hear story about big bonus, big pay etc. Ask them what they think makes them so unique and cream of the crop to be able to make the big money and all keep quiet.

Crappy degrees, low class generic MBA, unsuccessful career in some other fields etc. A lot of them don't even qualify as "above average" and the same type are always asking about how to join a field where only the top 0.1% get the jobs.

Please, dream on. And for god's sake grow a brain, you think a real IB who is making 6 figure amount will be so free to advise you in an online forum? Some people.... haiz really duno what to say...

Oh man you hit them on the soft spot. Like I repeated many time in that Barclay thread and some other finance threads. Go ask ppl working in banks whats the environment. I think TS need to seriously wake up his idea that people working in banks = bankers = investment bankers.

For god's sake, TS should go think of some creative business ideas and become the next Mark Zuckerberg. If not just continue working like a donkey till you end up in the grave and hope that when you reborn again, you can get better grades and hopefully be a investment banker.

FYI. There are many ways to b rich, lawyers, dentists, IB are just one way. Other ways include starting own business, forex/shares trading, selling backside or drugs etc. All got its risks, dont assume being an investment bankers is w/o risk coz you will be the first to be retrenched during downturn. Also like what our friend say earlier, investment bankers wouldnt b here typing advice coz they earning millions and they got no time for losers like us hahaha.

(Like I say in another thread can we consolidate such nonsense questions under a sticky thread.)

I'm just a lucky local grad that got converted into a full time program in the back office of one of the BBs via an internship. My degree's in IT in one of the "big 3" uni, so you shd be able to guess what kind of back office work i'm gonna be involved in.

Am i speaking from experience? I would think so. Similarly to chem engine, a lot of IT grads I know dream of working in a bank. when asked why, all of them told me because of the remuneration and the glam of working there. No one ever said it's because it'll open opportunities for them to learn or it'll let them work in one of the most secured/robust/dynamic environment in the world. No one.

It's always about the pay and the pay and the pay plus the glam. It got me really sick because i interned in a bank. I agree that most of them pay better than those companies in the IT industry, but there's also those that pay much worse. To name one would be the bank that never sleeps, you guys can go check ard, the pay for IT is worse than DSTA or DXO or A*Star. And you slog like a dog for that pay. Are you ready to slog like there's no day and night for a salary that's lower or up to 30% than your friends in stats board putting half or less the effort compared to you?

Becos I worked in a back office environment. It was full of FTs. At one point of time, I was the only local chinese in the whole level. Go figure out how I felt at that point of time. Will you be able to tahan that throughout a long period of time?

If your answer is yes to the above questions, then I'll say go for it. But ask yourself how long can you last in that environment?

It's different for me becos i nv thought abt working in the IB/PB/FO line of the business. I'm happy with what I have in IT because I love it.

My advice would always be manage your expectations accordingly to what you have/possess. As the chinese saying goes, the more you expect, the bigger the disappointment you'll have.

Hey all, thanks for the inputs. I know my qns is kind of redundant. I know my expectation, I nv said in the first place in my thread that I would like to be an IB/ analyst or whatsoever. So is kinda confused me how the discussion lead to that direction in the first place. Even if I have to start from the bottom to join the industry, I am willing enough. Perhaps what you wouldn't like to do would give u he biggest clue for what you would love to do. The first few years Afta graduation would be try-out period. I would like to hear inputs from ppl working in the industry. Tat's all and how I could end up there.

Lots of SMU grads are now working in banks. I'm an old chap and I believe that all things equal, it's more financially rewarding to work in the finance sector regardless of whether it's FO, MO or BO.

It's not true that only people in banks get crap and suffer. The same stories apply to all jobs anywhere in the world. That said, I have many friends who are super happy about their jobs in finance and lead a super balanced life (they always claim they are super busy though - don't all of us?).

I am a third class local uni engine grad and went to look for banking operation job in a recruitment agency today.

I was told there are no permanent positions for my background and qualifications, and banks only offer contract to no experienced people like me. As such, the consultant said there is a $2400 private bank job opening (performance reporting) in the back office which is roughly 7-8 months contracy.

I would like to ask for people with my background, how much will be a fair salary? what you guys think of $2400? and what are your views on contract (7-8 months) ? and do you think I should find permanent one or do I stand no chance for permanent?

Thanks if anyone would like to express the market rate for back office operations with my background, as I really do not know which type of pay is acceptable or high or low.

Thanks to anyone who read this :)